Chevron Corporation $CVX Stock Holdings Reduced by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB reduced its holdings in Cheron Corporation by 1.1% in the second quarter, owning 313,011 shares worth approximately $44.82 million after selling 3,327 shares.
• Chevron's quarterly earnings report showed earnings per share of $1.77, beating estimates, but revenue was down 12.4% compared to the previous year.
• Chevron has received mixed ratings from analysts, with several adjusting their price targets upward, including Bank of America raising it from $170.00 to $185.00, while UBS Group increased theirs from $186.00 to $197.00.

MassMutual Private Wealth & Trust FSB lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,011 shares of the oil and gas company's stock after selling 3,327 shares during the quarter. Chevron makes up approximately 1.2% of MassMutual Private Wealth & Trust FSB's holdings, making the stock its 17th biggest position. MassMutual Private Wealth & Trust FSB's holdings in Chevron were worth $44,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Advocates LLC lifted its position in shares of Chevron by 3.8% in the second quarter. Strategic Advocates LLC now owns 2,789 shares of the oil and gas company's stock worth $399,000 after buying an additional 101 shares during the last quarter. Juncture Wealth Strategies LLC lifted its position in shares of Chevron by 8.3% in the second quarter. Juncture Wealth Strategies LLC now owns 4,466 shares of the oil and gas company's stock worth $639,000 after buying an additional 343 shares during the last quarter. Davis Investment Partners LLC lifted its position in shares of Chevron by 5.5% in the second quarter. Davis Investment Partners LLC now owns 6,228 shares of the oil and gas company's stock worth $907,000 after buying an additional 322 shares during the last quarter. Chemistry Wealth Management LLC lifted its position in shares of Chevron by 141.5% in the second quarter. Chemistry Wealth Management LLC now owns 9,545 shares of the oil and gas company's stock worth $1,367,000 after buying an additional 5,593 shares during the last quarter. Finally, Avity Investment Management Inc. lifted its position in shares of Chevron by 8.7% in the second quarter. Avity Investment Management Inc. now owns 191,544 shares of the oil and gas company's stock worth $27,427,000 after buying an additional 15,363 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CVX shares. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Bank of America boosted their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus target price of $165.05.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Up 0.2%

CVX stock opened at $157.46 on Tuesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $272.09 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.98 and a beta of 0.90. The business's 50 day moving average is $154.87 and its 200-day moving average is $148.78. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company posted $2.55 EPS. The company's revenue was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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